OG-16-00399

Important Notices Pertaining to North Dakota Department of Trust Land Lease Auctions

1. The tracts available for lease are sold on an as is basis, with no representations or warranties regarding the quality of title, ownership, or the accuracy and completeness of the information provided by the State.
2. The tracts available for lease are subject to the restrictions found in North Dakota Century Code (NDCC) Chapter 15-05, Leasing Coal, Oil, Gas, and Other Rights (www.legis.nd.gov/cencode/t15c05.pdf) and Administrative Rule Chapter 85-06-06 (http://land.nd.gov/Docs/Minerals/rules.pdf).
3. The burden of due diligence is the bidder's responsibility prior to any auction.
4. The lease effective date will be May 3, 2016.
5. The royalty rate for Billings, Divide, Dunn, Golden Valley, McKenzie, Mountrail and Williams counties is three/sixteenths (3/16). All other counties are one/sixth (1/6) royalty rate.
6. The successful bidder must make payment by wire transfer or automated clearing house (ACH) for all bonus, rental, and bidder's premium owed to the State within 7 days. The State will accept payment from only one bidder per tract; however, a bidder may make multiple payments in one wire or ACH, provided the bidder indicates which tracts are involved in the payment.
7. EnergyNet will send the successful bidder an email after the close of the auction with the detailed payment instructions and amounts due to the North Dakota Department of Trust Lands.